Saturday, January 21, 2017

Supporters and opponents of a planned high-speed rail line
between Houston and Dallas continue their efforts, though it’s likely the state
legislature’s upcoming session starting in January will be the final
determinant of the train line’s destiny. Texas Central Railway on Wednesday
released a new study commissioned by the company showed more than 90 percent of
potential riders would save an hour of travel time by using the train as
opposed to flying or driving. The analysis compared the actual time of travel
for each. For air travel, the time used in the study included early arrival at
the airport for passenger screening in addition to the flight time.

Further, the study by L.E.K. Consulting concluded nearly
five million passengers would use the line annually by 2026. Two-thirds of the
2,000 people polled who have made a Houston-to-Dallas trip in the past year
said they would consider using the line on their next trip, if it was
available.“This study demonstrates strong, pent-up demand for better travel
options,” said Texas Central CEO Tim Keith, in a statement announcing the
results of the study. Texas Central is proposing the 240-mile train line
between the two metro areas. Earlier this summer, Keith said the company was
still on pace to start construction in late 2017 or early 2018, though the bulk
of work would start later.

Plans call for Japanese-style bullet trains capable of
making the journey between Houston and Dallas in 90 minutes. That’s 70 minutes
faster than by car and 50 minutes faster than air travel, L.E.K.’s study found.
However, when not including the extra time it takes to go through passenger
screening at the airport, airlines fly nonstop between Houston and Dallas in 60
minutes.

The rail line, however, faces intense opposition in rural
areas where it is planned to cross. A number of counties and their local
officials have passed resolutions in opposition to a private company having eminent
domain rights.

Earlier this week, Waller County’s sub-regional planning
commission – which has already stated its opposition to the train line’s
passage through its area – filed a lawsuit in Austin against the Texas
Department of Transportation, related to the transportation agency’s refusal to
coordinate planning activities related to the line.

STAY

Downtown is at the center of the Super Bowl action. So it’s hardly surprising that hotels in the city’s urban core are upping their game and new options are joining the scene. For instance, theFour Seasons’multimillion-dollar renovation includes a revamp of its spa and an overhaul of its lobby, the latter of which includes a new restaurant/bar calledBayou & Bottle. But perhaps most notable is the new $371 millionMarriott Marquis, a 1,000-room, 29-floor convention-center property. Two intriguing amenities: a Texas-shaped lazy river and the hotly anticipated Xochi restaurant from five-time James Beard finalist Hugo Ortega. The former resides on a deck 110 feet above ground, surrounded by skyscrapers. Ortega will debut the latter, serving cuisine inspired by Oaxaca, Mexico, this month. Rooms at the Four Seasons Hotel Houston start at $269; 1300 Lamar St.,www.fourseasons.com/houston. Rooms at Marriott Marquis start at $220 per night; 1777 Walker St.,www.marriott.com. PLAY

Whether or not you score a ticket to the big game, there will be plenty of revelry around town to whet your appetite for the main event.Super Bowl LIVEis a 10-day festival (Jan. 27-Feb. 5) in and around downtown’s convention-center-facing Discovery Green park. Comprising several blocks and open to the public, the Houston-themed event will offer local food, performances and fan experiences such as the NASA-inspired Future Flight ride, which combines virtual reality with a 90-foot drop tower. Texas acts, including ZZ Top, Solange and Leon Bridges, will take the stage; elsewhere, the three-level pop-up venue Club Nomadic in the Sawyer Yards arts district will feature celebrity-filled parties and concerts from the likes of Taylor Swift and Bruno Mars.www.housuperbowl.com.

DINE

Two of Houston’s best chefs are putting new twists on the classic steakhouse formula. James Beard Award winner Chris Shepherd opens hisOne Fifthrestaurant this month in a converted 1920s church, blocks from his locavore-savvy, ethnic-Houston-inspired Underbelly in the Montrose area. The restaurant will change concepts annually for five years; its first iteration is a steakhouse. One Fifth Steak’s seasonal menu might include unusual cuts such as a lamb shoulder or hanger steak, and sides will blaze beyond the traditional (creamed mustard greens with Benton’s bacon instead of creamed spinach, for example). Also on offer: a raw bar, tableside cart service and whiskey galore. Meanwhile, Le Cordon Bleu-trained Ronnie Killen has openedKillen’s STQ, which merges the talents of his namesake steakhouse and his barbecue joint in Pearland. STQ is his first inner-city venture: Think smoked Vidalia onion soup, pappardelle with smoked brisket, dry-aged long bone pork chop and bacon tres leches bread pudding. One Fifth Steak, 1658 Westheimer Road,www.onefifthhouston.com. Killen’s STQ, 2231 S. Voss Road, 713-586-0223,www.facebook.com/killensstq.

SHOP

Houston’s buzziest new shopping destination happens to be a stone’s throw from its biggest (that would be the Galleria mall, with hundreds of stores spanning more than 2 million square feet). Mixed-use developmentRiver Oaks Districtfeatures dining and entertainment venues, but its impressive collection of luxury retailers is the pièce de résistance. Lining the complex’s tree-lined promenades, boutiques from top fashion houses (Tom Ford, Stella McCartney, Roberto Cavalli, Dior) and beauty brands (Jo Malone London, NARS) sidle up next to red-carpet-ready jewelry and accessory purveyors (Hermès, Harry Winston, Chopard, Cartier, Van Cleef & Arpels). Texas-born concepts — including Houston’s Baanou (womenswear), St. Nicola (men’s and women’s shoes and bags), plus a 3,300-square-foot outpost of Dallas’ Forty Five Ten — are accounted for, as well. If your credit card needs a workout, this is the spot. 4444 Westheimer Road,www.riveroaksdistrict.com.

UNWIND

For some, pampering involves a simple manicure. Others spend hours on a padded table in a hushed treatment room with a therapist. At the new Houston outpost of the Austin-born spa chainMilk + Honey, you can do both. The multilevel, 8,249-square-foot spa and salon in River Oaks’ West Ave development has 15 treatment rooms along with hair and mani/pedi stations. The place’s natural color palette — warm neutrals, wood — echoes its organic-product focus. The spa menu offers a nice range of treatments for men (“Manly Facial,” sports massage, back treatment) and women — try the Spa Partisan, which begins with a full body brushing followed by a sugary skin polish, on-table rinse-off, then a steam treatment followed by an hourlong massage. Bonus: Though there’s an in-store shop, Milk + Honey also is steps from high-fashion store Tootsies. 2800 Kirby Drive, 713-231-0250;www.milkandhoneyspa.com/houston

Friday, January 13, 2017

One has to wonder where is the breaking point if home prices continue to rise far and beyond the average income of households. These numbers are interesting because for too long we have known home prices are rising much faster than income. What has allowed the market to continue to surge despite this glaring fact has been low interest rates. With rising interest rates and as we see here in this analysis - how much the down payment is gobbling up family income - seems to indicate we are getting closer to a breaking point in the fundamental laws of supply and demand. If people are struggling to afford to pay the down payment - as illustrated in this analysis by Zillow - hard to see how home prices can continue to go up as demand is likely to slow.

Zillow analysis shows average median-priced home down payment is $38,500.

Cobbling together a
20% down payment on a home costs more than two thirds of the average
annual income – one of the reasons potential home buyers say saving for a
down payment is among their top concerns, the Seattle-based real estate
site Zillow reported Friday.

In the U.S., to buy a median-priced home for $192,500, a buyer must
scrape together $38,500 in cash – plus any closing costs and moving
expenses – in order to ensure they qualify and get the best terms on
their mortgage.
Among large housing markets, buyers in the San Jose, San Francisco and Los Angelas
metros must come up with the largest percentage of their income to buy a
home – 182% of the average annual income to put 20% down on the median
home.

In San Jose, where the median income is $105,455, a down payment on the median $961,600 home is $192,320.

Buyers in Pittsburgh, Indianapolis, and Kanss City set aside the smallest chunk of their income for the ideal down payment: 48% of the median annual wage.

Should
mortgage interest rates rise in 2017 as expected, a solid down payment
will become increasingly important. While it is possible to put down as
little as 3.5% on a home, the trade-off is a higher interest rate and
costly private mortgage insurance. A better interest rate can translate
to thousands of dollars over time; on a $200,000 loan, lowering the
interest rate by half a percentage point will save $20,000 over the
lifetime of the loan.

"Saving enough cash for a down payment is a
major barrier to homeownership, especially in expensive markets, where a
20% down payment can cost nearly $200,000," said Zillow Chief Marketing
Officer Jeremy Wacksman. "While it's possible to buy a house with a
smaller down payment, 20% ensures the best rates. As important as it is
to find a monthly payment you can afford, some buyers' budgets will come
down to the amount of cash they can bring to the table."
Nearly
half of all home buyers are buying a home for the first time, according
to the Zillow Group Report on Consumer Housing Trendsii. Those buyers
can't rely on the equity in their current home and must come up with the
cash to get into the housing market – often while paying record-high
rents. First-time home buyers are also more likely to have received a
financial gift to help with their down payment.

One in five home
searchers said saving for a down payment is their top concern about the
home-buying process – second only to finding an affordable home, which
was their top concern. Most – 56% – saved for their down payment the
old-fashioned way, setting aside a little money at a time, according to
the Zillow Group Report.

One third of buyers used more than one
source of funds for their down payment, combining savings with gifts and
loans from family and friends or cashing in their retirement.

Designer Marc Thee had three words for the residential builders who
attended his IBS session about floor plan trends this week: Original,
memorable, and emotional.
The principal of Florida-based
Marc-Michaels Interior Design, which installed $1 billion of residential
interiors last year, said that homes with all three attributes sell for
top dollar. Thee, named one of the world’s top designers by Architectural Digest magazine, walked the audience through dozens of ways to add these “memory points” to a home.
An
attention to design details sets building firms apart from their
competition, he said. “Work to catch the attention of the buyer instead
of the builder down the street, who is doing what he did last year,”
Thee said. Evoke emotions that lead to sales with these design elements:

--Spec
large, low windows in order to add more light and interest to a room.
“The perceived perception of the quality, square footage, and uniqueness
of your home is going to double with lower sill heights,” he said.

--Kitchen
islands can do double duty with a built-in booth on one side to create a
functional alternative to a breakfast room or a place to do homework,
play games, or check email.

--The monolithic look is big for cabinets. A wall of slab-style cabinets creates a modern counterpoint in the kitchen.

--Light coves above a kitchen island or stairs are an easy and affordable way to add pizzazz.

Courtesy Marc-Michaels Interior Design

--Butler’s pantries are becoming more functional and are moving
closer to the kitchen, with space for dishwashers, ovens, and small
refrigerators.

--Thee is big on high-gloss finishes for cabinets,
walls, shelves, ceilings, and accessories. “The sheen always adds life
to a room,” he says. “If you have a space that’s flat or a little too
brown-on-brown, go in there with some reflective items to make it come
to life.”

Friday, January 6, 2017

I have noticed how the area of Kings Colony in New Caney has become a barrio over the years. It turns out this is a statewide issue surrounding many large cities. The development company behind Kings Colony is Colony Ridge Land, LLC. This is a interesting article that paints a grim picture of life for so many in these parts. The land is cheap for a reason and they are being offered for little to no down payment. As home prices in Houston continue to soar, we will be seeing more such developments sprouting across the outskirts in once pristine forests.

Residents
lament conditions in ‘new colonias’ near Houston

By MATTHEW
TRESAUGUE - Associated Press

NEW CANEY,
Texas (AP) - The neighborhood is called Kings Colony, but the name just seems
wrong. Reina Sanchez and her husband live here in a three-room house, built
from the frame of a utility shed with plywood, tar paper, concrete blocks and
whatever discarded materials they can find.

Their home
is beyond the reach of a municipal water system, and the couple cannot afford a
well or septic tank. So they use two 250-gallon plastic totes to capture and
hold rainwater for drinking, bathing and washing dishes. An outhouse stands
beneath a shade tree in the yard.

Around their
half-acre lot in east Montgomery County, there are no sewers, sidewalks, street
lights, parks or fully paved roads. The streets have so many potholes that
those driving school buses, delivery trucks and even ambulances won’t go down
them.

“We’ll need
an airplane to get out of here if the roads get any worse,” Sanchez told the
Houston Chronicle (http://bit.ly/29gxDqb ) , speaking through a translator.

More than
anything, Kings Colony resembles the infamous colonias along the border with
Mexico - places that typically aren’t associated with the suburban edges of
Texas’ largest metropolitan areas. But that’s changing quickly as housing
prices push Latino laborers to new colonias outside Austin, Dallas, Houston and
San Antonio. An estimated 500,000 people live in these bare-bones real estate
developments across the state.

No one knows
exactly how many people live in Kings Colony, but there are 1,868 addresses
listed in the latest directory of the property owners association. Nearby, in
Liberty County, developers have carved thousands of lots from the piney woods,
selling them to Spanish-speaking workers with promises of legal plats,
drinkable water, drainage, electricity and internet hookups.